Small Banks Attacking Paulson Plan

Posted by Bull Bear Trader | 4/01/2008 07:35:00 AM | | 0 comments »

The WSJ is reporting how small banks and credit unions are attacking the Paulson plan. This was to be expected, as the proposal was probably a surprise to them - with the move from state to federal regulation that is being proposed. Given that each district has numerous banks and credit unions, many with donors, it is likely that Congress will need to address these concerns. With other issues on the table, not to mention election year politics, it is doubtful that Paulson will see approval during his tenure.